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. >> i think it's the economy. >> reporter: all this with the election just six days away, and another 10% who say they could be persuaded to change. rita williams, ktvu news. >>> oakland mayor jean quan testified about the state of the oakland police department as civil rights opponents attempt to put the police department under state police. the judge overseeing today's hearing had said quan could face punitive action if she did not testify today as she had missed her last court date siting city business. city rights opponents say oakland have failed to follow reform. a federal judge is scheduled to consider the issue in december. >>> all you need is a smart phone to ride munni for free. that's according to a firm that specializes in mobile security. it says it's discovered a flaw in the system. the glitch allows those who are computer savvy to reset the value on muni's system to not pay. >>> the purple onion shut down last night and today remnants of the comedy club went up for sale. items included musical instruments and pictures of the club's old headliners. the purple onion lost
. >> i think it's the economy. >> reporter: all this with the election just six days away, and another 10% who say they could be persuaded to change. rita williams, ktvu news. >>> oakland mayor jean quan testified about the state of the oakland police department as civil rights opponents attempt to put the police department under state police. the judge overseeing today's hearing had said quan could face punitive action if she did not testify today as she had missed her...
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Sep 26, 2012
09/12
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. >>> let's start with the good news on the economy from josh. >> we're going to begin there. very important news there affecting millions of americans. new indications this morning that home values, a key factor in the economic recovery, are on the rise. but who is benefitting the most? abc's rob nelson looking at trends. good morning to you, rob. >> good morning, josh. really big news for so many folks out there. we got data from the 20 biggest cities in the country. and it's good news to tell you this morning. home prices have posted the strongest gains since 2005, seven years ago before the recession. in the first seven months of this year, prices in those cities have gone up nearly 6%. on top of that, some of the biggest gains in value are coming at the low end of the housing market. that means the less expensive homes, hit hardest by the downturn. we're not out of the woods just yet. a few miles left to go. prices are still down 30%, compared to before the recession. but every improvement helps boost homeowners' confidence. that makes them a lot more likely to start spen
. >>> let's start with the good news on the economy from josh. >> we're going to begin there. very important news there affecting millions of americans. new indications this morning that home values, a key factor in the economic recovery, are on the rise. but who is benefitting the most? abc's rob nelson looking at trends. good morning to you, rob. >> good morning, josh. really big news for so many folks out there. we got data from the 20 biggest cities in the country. and...
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Sep 30, 2012
09/12
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. >> and so far the polls at least indicate that mitt romney hasn't been able to capitalize on the economy right now. do you think he can do that with regards to foreign policy? it seems to be a surprising week just now for the president with what's going on in the middle east and this tragic landmark we have in afghanistan, as well. >> that's right. the president also facing a lot of questions about the death of the ambassador in benghazi. you saw mitt romney doing that over the weekend. the way he's going to win this race is if he convinces those undecided voters that he's got the better answers on the economy. that is still issue number one, two and three. >> it's going to be something you're going to be covering wednesday night during the debate. george, thanks so much. don't forget to watch abc's "this week" later this morning. george's guests include governor chris christie and white house adviser david plouffe. tune in wednesday for our special coverage of "one on one," the candidates debate. 9:00 eastern, 6:00 pacific. >>> a supremely embarrassing week for this nation's airport scr
. >> and so far the polls at least indicate that mitt romney hasn't been able to capitalize on the economy right now. do you think he can do that with regards to foreign policy? it seems to be a surprising week just now for the president with what's going on in the middle east and this tragic landmark we have in afghanistan, as well. >> that's right. the president also facing a lot of questions about the death of the ambassador in benghazi. you saw mitt romney doing that over the...
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Sep 26, 2012
09/12
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. >>> let's start with the good news on the economy from josh. >> indications that home values and the economic recovery are on the rise. but who is benefitting the most? abc's rob nelson looking at trends. good morning to you, rob. >> good morning, josh. good news for so many feiolks o there. we got data from the 20 biggest cities in the country. and home prices are posting the strongest gains since 2007. in the first seven months of this year, prices in those cities have gone up nearly 6%. on top of that, some of the biggest gains in value, are coming at the low end of the housing market. that means the less expensive homes, hit hardest by the downturn. we're not out of the woods just yet. prices are still down 30%, compared to before the recession. but every improvement helps boost homeowners' defeconfidenc. that makes them more likely to start spending again. some reasons to be encourage, josh. >> cautious optimism, if nothing else. >>> also, those folks are going to have more money in their pocket because they are saving at the gas station. aaa reported that prices have dropped ag
. >>> let's start with the good news on the economy from josh. >> indications that home values and the economic recovery are on the rise. but who is benefitting the most? abc's rob nelson looking at trends. good morning to you, rob. >> good morning, josh. good news for so many feiolks o there. we got data from the 20 biggest cities in the country. and home prices are posting the strongest gains since 2007. in the first seven months of this year, prices in those cities have...
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Sep 30, 2012
09/12
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he has to convince voters that he has the better answers on the economy. >> going to be something. thank you so much. >>> and don't forget to watch abc's "this week" later this morning. george's guests will include new jersey governor chris christie and white house adviser david plouffe. >>> and tune in wednesday of special coverage of one-on-one the candidates debate. at 9:00 p.m. eastern. >> george and diane hosting the debates wednesday night. >>> now, to what has been an embarrassing week for airport screeners. now, more ominously two incidents of loaded guns making it through the x-ray machines undetected. abc's mark greenblatt is at new york's laguardia airport. >> good morning to you, dan. frequent travelers complain about evasive screening procedures. two guns made it on to airplanes this week, has many travelers on edge and worried about their safety. a long line of high-profiled security blunders of tsa came to a head on friday, that when a loaded .38 caliber gun went undetected by screeners. new orleans hornets executive joshua richardson, mistakenly took it with him on
he has to convince voters that he has the better answers on the economy. >> going to be something. thank you so much. >>> and don't forget to watch abc's "this week" later this morning. george's guests will include new jersey governor chris christie and white house adviser david plouffe. >>> and tune in wednesday of special coverage of one-on-one the candidates debate. at 9:00 p.m. eastern. >> george and diane hosting the debates wednesday night....
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Sep 26, 2012
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we have got to get this economy going again. megyn: carl cameron joins us live from toledo where governor romney will hold his final event of the day. >> reporter: mitt romney said it and there is a big billboard they will be trotting out. we can't afford four more years and that's the even caps laiftion what romney wants to talk about in the final six weeks of this campaign. there is a reemphasis on jobs and the economy. the core of his campaign, the reason he ran to fix the failed obama economy. he's talking about shared sacrifice, not everybody is going to get a tax cut. it's time for serious leadership to deal with the nation's budget crisis. >> don't be expecting a huge cut in taxes because i'm also going to lower deductions and exemptions. but by bringing rates down we'll be able to let small businesses keep more of their money so they can hire more people. my priorities is jobs and i'll make it happen. >> reporter: bigger crowds and raucous rhetoric from romney. romney has a new ad out in which he speaks directly to camer
we have got to get this economy going again. megyn: carl cameron joins us live from toledo where governor romney will hold his final event of the day. >> reporter: mitt romney said it and there is a big billboard they will be trotting out. we can't afford four more years and that's the even caps laiftion what romney wants to talk about in the final six weeks of this campaign. there is a reemphasis on jobs and the economy. the core of his campaign, the reason he ran to fix the failed obama...
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Sep 26, 2012
09/12
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KGO
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consumer spending drives about 70% of the total economy. >>> well, those sky-high airline fees are really adding up. new numbers show domestic airlines raked in a record of more than $1.7 billion in baggage fees, just in the first half of this year. and the government's just released a report reporting more fees, fewer airlines, and fewer flights are in our future. >>> barnes & nobel has just unveiled a new nook model to go head-to-head with amazon's kindle and compete with ipads. a seven-inch model starts at $199. and a nine-inch, at $299. the new nook video service is coming this fall. all kinds of technology for us out there. >> it's hard to keep track of all that's out there. >> honestly, i can't. my kids know more about it than i do. >>> when we come back this wednesday morning, a costly call. the huge amount of gambling money that was at stake in that monday night football fiasco. >>> and then, a quick-thinking teen, risking his life and rushing to the rescue. [ lisa ] my name's lisa, and chantix helped me quit. i honestly loved smoking, and i honestly didn't think i would ever quit
consumer spending drives about 70% of the total economy. >>> well, those sky-high airline fees are really adding up. new numbers show domestic airlines raked in a record of more than $1.7 billion in baggage fees, just in the first half of this year. and the government's just released a report reporting more fees, fewer airlines, and fewer flights are in our future. >>> barnes & nobel has just unveiled a new nook model to go head-to-head with amazon's kindle and compete...
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Sep 26, 2012
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i know what it takes to get this economy going again. i care about the people of america and the difference between me and president obama, is i know what to do and i will do what it takes to get this economy going. [applause] martha: on the campaign trail that was governor mitt romney in the buckeye state where he is expected to be spending a quite a bit of time over next couple of weeks. his campaign insists they're confident about victory in ohio, which of course is probably the most important swing state, despite recent polls show president obama is in the lead there and this is a quote from the romney campaign. there is just a nice, wide, open path. so i'm not, we're not in a situation where we're forced into this boxed canyon to say, we have to win this string of states. but at the end of the day ohio of course will come down to the wire they say. so, let's take a look at average polls, recent polls that come out of ohio where president obama actually leads governor romney by 5%. there are numbers that are much wider margin than th
i know what it takes to get this economy going again. i care about the people of america and the difference between me and president obama, is i know what to do and i will do what it takes to get this economy going. [applause] martha: on the campaign trail that was governor mitt romney in the buckeye state where he is expected to be spending a quite a bit of time over next couple of weeks. his campaign insists they're confident about victory in ohio, which of course is probably the most...
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Sep 28, 2012
09/12
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martha: back to the economy now. there are dramatic new numbers that we got on economic growth this week that really show a stagnant economy. initially gdp growth estimate was up 1.7%, which is not a good number. you want to be north of 2% if you're going anywhere in this economy. then they took it down to the actual number which we got yesterday which got very little attention, really. 1.3% is the down regard revision on gdp for the second quarter. meanwhile the country is heading towards what has been talked about so much, the fiscal cliff that will kick in when we get into 2013, when the bush tax cuts expire and we've got 600 billion in spending cuts waiting around the corner. bob woodward talked about this. he talked about the efforts to avoid the fist alcliff and basically said that his reporting reveals that they have hit a wall because the president has a failure to community with lawmakers according to bob woodward, here is what he said. >> most of the most astonishing things is he doesn't have that relations
martha: back to the economy now. there are dramatic new numbers that we got on economic growth this week that really show a stagnant economy. initially gdp growth estimate was up 1.7%, which is not a good number. you want to be north of 2% if you're going anywhere in this economy. then they took it down to the actual number which we got yesterday which got very little attention, really. 1.3% is the down regard revision on gdp for the second quarter. meanwhile the country is heading towards what...
WHUT (Howard University Television)
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Sep 29, 2012
09/12
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WHUT
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the economy is growing again but slowly. the 16 trillion dollars of debt -- the university of miami is as fine of any place to contemplate the future of the nation. indeed a strong stomach for gloomy talk. >> part of the amtrak -- we do not have enough to go around. we're in a rough period. the flexibility that was felt to years ago under bush and clinton, we no longer have that cushion of our own prosperity. the battling has gone worse. absolutely. >> there will be some who point out this is still an energetic place. the energy does not come from government. it might come from the lack of it. america may be forced to find out in the years ahead. >> the british prime minister david cameron was in new york this week to reaffirm his government's goal to spend with their plans & on foreign aid. if all goes to plan, the u.k. will hit the -- to spend 0.7% on foreign aid. back home, there are plenty of politicians to think that's spending so much another country's problems at a time when the u.k. is in recession is madness. emily
the economy is growing again but slowly. the 16 trillion dollars of debt -- the university of miami is as fine of any place to contemplate the future of the nation. indeed a strong stomach for gloomy talk. >> part of the amtrak -- we do not have enough to go around. we're in a rough period. the flexibility that was felt to years ago under bush and clinton, we no longer have that cushion of our own prosperity. the battling has gone worse. absolutely. >> there will be some who point...
WHUT (Howard University Television)
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Oct 4, 2012
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presidential election debate between president obama and mitt romney focused on the economy. americans are about $1 trillion in student loans -- owe $1 trillion. despite the huge investment in their education, almost half of recent university graduates are either unemployed or underemployed and many worry about the future. which candidate will they support? our correspondent has this report from philadelphia. >> mack has just qualified as a lawyer, so now taken put his lawbooks away and turn his attention to is $170,000 student debt. >> the whole gravity of it really did not hit me until about a few months ago when all of a sudden it was like, that's not just a number, that is actually a representative of something. so the joke has always been, well, i bought a house. but really it is a little bit more than that. unable to find a job, he's moving to texas to live with his parents and is not thrilled about it. >> i am 27 years old. even though it is rather typical of people, it is still not culturally normative. >> americans of $1 trillion in student loans and they are struggl
presidential election debate between president obama and mitt romney focused on the economy. americans are about $1 trillion in student loans -- owe $1 trillion. despite the huge investment in their education, almost half of recent university graduates are either unemployed or underemployed and many worry about the future. which candidate will they support? our correspondent has this report from philadelphia. >> mack has just qualified as a lawyer, so now taken put his lawbooks away and...
WHUT (Howard University Television)
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Sep 26, 2012
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under the european crisis is affecting the global economy, is affecting people's confidence, so it's more challenging for us to make a return on those investments as governments reduce interest rates effectively to zero and it's difficult to find an asset class is to invest in to make a good return. it presents a challenge for us and we're in the business of risk, helping people manage their risks. on the continent in europe, in greece, spain, people still need to manage their assets and we are there to help them. >> a bit of a silver lining at the end. >> in many countries around the world, laws about adoption are often blurred or ignored. parents desperate to have children if will pay to adopt even if the law forbids the selling of babies. our correspondent in nigeria has been looking into allegations that teenage girls are being separated from their babies even against their own will. >> motherly love for a newborn son. but the 16-year-old came desperately close to losing her child daniel. it was a traumatic fight to prevent him from being taken away at birth or adoption. she did
under the european crisis is affecting the global economy, is affecting people's confidence, so it's more challenging for us to make a return on those investments as governments reduce interest rates effectively to zero and it's difficult to find an asset class is to invest in to make a good return. it presents a challenge for us and we're in the business of risk, helping people manage their risks. on the continent in europe, in greece, spain, people still need to manage their assets and we are...
WHUT (Howard University Television)
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Sep 27, 2012
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altogether, the economies have become more volatile. so flexibility is the name of the game. we do believe that we are very well positions in this thing that generally the premium manufacturers have a more supportive business model to succeed in the future than the volume manufacturers. >> i should quickly add one of the big problems for the car makers as well in east china. it was a market they are relying on it. china is now slowing, which means they will have to make tough decisions in cost-cutting and job cuts. >> thank you very much. the chinese dissident artist ai weiwei has lost his final appeal in a tax evasion fight that he says as politically motivated. the artists will have to pay $2.4 million following a ruling by an appeals court. from beijing, martin patients report. >> ai weiwei said this was a case he never believed he could win. during the entire legal process, he did not see the evidence against him. after the final appeal he addressed journalists outside the court. >> people say, you know the results of this from the beginning. that is true. the result toda
altogether, the economies have become more volatile. so flexibility is the name of the game. we do believe that we are very well positions in this thing that generally the premium manufacturers have a more supportive business model to succeed in the future than the volume manufacturers. >> i should quickly add one of the big problems for the car makers as well in east china. it was a market they are relying on it. china is now slowing, which means they will have to make tough decisions in...
WHUT (Howard University Television)
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Sep 28, 2012
09/12
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he must present a credible plan to tackle the country's massive debt, a stagnant economy, record unemployment, all while being very mindful of his plunging popularity. christian is with me now from paris. so the details are coming in. what are we hearing? >> well, it's not a package that cuts as wide or deep as we've seen in italy, greece, and spain. remember, that this was a president that came to power promising to sweep away and boost growth. now they're having to do it while reassuring a very skeptical public. 10 billion euros in spending cuts today. 20 billion euros of tax rises. 10 billion of that will go onto business, and of course there is that much promised higher rate of the tax. 75% for those who earn more than a million euros. the prime minister knows he's under pressure. this is what he had to say after they presented the budget to the counsel administrators. >> it's also a budget which asks for some efforts. but this effort is fair. the middle of working classes will be spared income tax rises. 90% of taxable households will not pay more tax. this is our guarantee to the french
he must present a credible plan to tackle the country's massive debt, a stagnant economy, record unemployment, all while being very mindful of his plunging popularity. christian is with me now from paris. so the details are coming in. what are we hearing? >> well, it's not a package that cuts as wide or deep as we've seen in italy, greece, and spain. remember, that this was a president that came to power promising to sweep away and boost growth. now they're having to do it while...
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Sep 27, 2012
09/12
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it is europe's largest -- fourth largest economy. gavin hewitt has more from madrid. >> lines of police outside the education ministry in madrid tonight. teachers protested here against cuts. they came onto the street at the government's announced the most severe round of budget savings so far. these latest austerity measures are widely seen as paving the way for a full-scale bailout. >> [spending -- speaking spanish] >> the minister of finance said he heard 2012 would be the last year the economy would shrink. another minister described it as a crisis budget designed to exit the crisis. this austerity budget aims to find savings of 40 billion joerres next year. each government department would how to make cuts of 90%. public-sector pay will be frozen for another year, and the retirement age is set to rise. >> just a few weeks ago, europe believed it had achieved a breakthrough. the european central bank said it would help come -- countries like spain by buying their bonds and reducing their borrowing costs. but there was a catch, sp
it is europe's largest -- fourth largest economy. gavin hewitt has more from madrid. >> lines of police outside the education ministry in madrid tonight. teachers protested here against cuts. they came onto the street at the government's announced the most severe round of budget savings so far. these latest austerity measures are widely seen as paving the way for a full-scale bailout. >> [spending -- speaking spanish] >> the minister of finance said he heard 2012 would be the...
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Sep 28, 2012
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those other emerging economies are growing a lot based on productivity. brazil has been growing by employing more people but now unemployment is very low. the only way we can grow further in the future is by improving our productivity. in order to do that we have to introduce new innovation and technology. the only way to do that is having a more qualified work force. >> i want to put to use something one economist said to me, which is that you can account for brazil's growth rate recently with one word, that is china. is that sustainable? >> that is not really sustainable in the long run. china will continue to grow at this rate. in order to grow, brazil has to do something on their own. we have to do our own homework. that is investing in the quality of education, improving our systems. the productivity has been stagnant. >> i want to put a different point of view to you. i have been here a few days and you live here. it does not feel like the city in the grips of an economic slowdown. i see people in the streets. people are spending money. this feels l
those other emerging economies are growing a lot based on productivity. brazil has been growing by employing more people but now unemployment is very low. the only way we can grow further in the future is by improving our productivity. in order to do that we have to introduce new innovation and technology. the only way to do that is having a more qualified work force. >> i want to put to use something one economist said to me, which is that you can account for brazil's growth rate...
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Sep 28, 2012
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today both spent time in virginia where the economy remains a dominant issue. >> our economy needs to be reinvigorated, and the president has laid out his plan. it's a continuation of the old plan. we can't afford four more years of the last four years. all right. >> romney also making while reaching out to veterans and service members. >> my opponent thinks it's fair for somebody who makes $20 million a year like him pays a lower rate than a cop or a teacher who makes 50,000. >> president obama was in virginia beach. he also talked to veterans and service members who spent 40 days now left for the election both candidates are spending the bulk of their time campaigning in swing states. >>> the california transportation commission today allocated $40 million caltrain to modernize track and eventually integrate into california's high speed rail project. the money will go toward a new high-tech signal system that prevents collisions and enforces speed restrictions. it also optimizes a number per hour. the long range is to have the track modernized by the year 2019. >>> a young actor is
today both spent time in virginia where the economy remains a dominant issue. >> our economy needs to be reinvigorated, and the president has laid out his plan. it's a continuation of the old plan. we can't afford four more years of the last four years. all right. >> romney also making while reaching out to veterans and service members. >> my opponent thinks it's fair for somebody who makes $20 million a year like him pays a lower rate than a cop or a teacher who makes 50,000....
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Sep 30, 2012
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we, the majority are really getting schooled in the economy. the way to fix it, to reverse that, to offset is use the political system to get that result. in the political system, we can rearrange so what was lost in the economics is indicated more and more unequal is recouped by using politics. where the majority votes, where the majority rules is a perfectly logical way of thinking. and this has occurred to the rich as well. and to the corporations as well. so the more the system produces inequality, the more urgent it becomes for those benefiting from the inequality capitalism producers to control the politics because the alternative would be good. they're not going to do that. they're not going to allow the political system to function undoes what they have achieved in their mind in the economic system. they're not going to do that. see you can watch as america becomes more and more unequal, then it becomes necessary for politics to become more and more dependent on the money, dependent on the corporations to provide contributions to the ec
we, the majority are really getting schooled in the economy. the way to fix it, to reverse that, to offset is use the political system to get that result. in the political system, we can rearrange so what was lost in the economics is indicated more and more unequal is recouped by using politics. where the majority votes, where the majority rules is a perfectly logical way of thinking. and this has occurred to the rich as well. and to the corporations as well. so the more the system produces...
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Sep 26, 2012
09/12
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KPIX
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americans say they're feeling more confident about the economy. the consumer confidence court increased nine. push higher by a brighter outlook for hiring. it is the highest level since february but still 20 points below what is considered to be healthy. barnes and noble says it will launch a video service that will let users buy and rent movies and television shows on their televisions and mobile devices. the video applications puts barnes and noble in direct competition with other on-line video providers myriad >> i used to feel sorry for airlines but after i saw the members they're making off of baggage fees, maybe not so much anymore >> absolutely. baggage these are actually taking off with u.s. airlines falling in more than $1.7 billion and that is just in the first half of this year, the most ever. delta collected the most. airlines for started charging for the checked bag back in 2008 and since then, just about all the carriers have jumped on board. i think i will start boycotting airlines and instead will go in the car. >> great weather co
americans say they're feeling more confident about the economy. the consumer confidence court increased nine. push higher by a brighter outlook for hiring. it is the highest level since february but still 20 points below what is considered to be healthy. barnes and noble says it will launch a video service that will let users buy and rent movies and television shows on their televisions and mobile devices. the video applications puts barnes and noble in direct competition with other on-line...
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Sep 30, 2012
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this campaign he used on the above ground states to fund the federal deficit and for not approving the economy when democrats controlled congress. >>> we got of us more dead more deficits and more people struggling to find work and no solutions that actually worked. we're the vice president's appeal to older voters in another battleground state assuring florida seniors that medicare would be around for future generations. greta the action the president took his actually strengthened the medicare trust fund and exceeded this live up to 2024. >>> president obama and the challenger mitt romney are prepping for their first debate. in practice sessions mitt romney will get help from the ohio senator who will play the role of the president. president obama will look to massachusetts senator kerry to stand in for mitt romney. behind in recent polls some campaign watchers said that mitt romney has more riding on the debates as well as more to gain than the president. " of the challenger has the opportunity to establish is competent to stand up and hold his own against the president of the estates a ch
this campaign he used on the above ground states to fund the federal deficit and for not approving the economy when democrats controlled congress. >>> we got of us more dead more deficits and more people struggling to find work and no solutions that actually worked. we're the vice president's appeal to older voters in another battleground state assuring florida seniors that medicare would be around for future generations. greta the action the president took his actually strengthened...
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Oct 2, 2012
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KPIX
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economy forecast growth next year is 2%, 2% minus 2% equals zero. you are pretty much at the recession stage. bo pelley: there are about 12.5 million americans who lost their jobs in the great recession. we have seen our economy in cecession or stumbling along since late 2007. and a lot of americans just want to know when does this end. >> well, i would say that there is good news lurking out there. and in particular the fact that he housing market is picking up is, in our view, a clear sign tiat the situation is improving. when you see that the financial institutions have been clearly strengthened, restructured and made a little bit safer and that ste housing market is picking up. that's not bad. >> pelley: not bad, but next week the i.m.f. is expected to theunce that it's lowering its forecast for world growth to 3% this year. two days before the first presidential debate a new poll irsthe "washington post" finds pe race still very tight nationwide with president obama leading mitt romney by two rints, 49% to 47%. but in two of the biggest swing t
economy forecast growth next year is 2%, 2% minus 2% equals zero. you are pretty much at the recession stage. bo pelley: there are about 12.5 million americans who lost their jobs in the great recession. we have seen our economy in cecession or stumbling along since late 2007. and a lot of americans just want to know when does this end. >> well, i would say that there is good news lurking out there. and in particular the fact that he housing market is picking up is, in our view, a clear...
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Oct 3, 2012
10/12
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we got a little good news today on the economy. overall, auto sales were up 13% last month from a yearefore. among the u.s. automakers, ford sales were unchanged, g.m.'s were up 1.5%, chrysler reported a 12% increase. there hasn't been enough good news like that on the economy. the recovery, of course, is painfully slow and one of the biggest reasons is the recession in europe. the 27 countries of the european union add up to the world's- largest economy, but they're reportrecordnemployment. in spain, unemployment among young people is 50%. mark phillips went to barcelona to see what happens when an economy goes into freefall. >> reporter: spain can be a deceptive place. in the early autumn sunshine and in the markets groaning with foodstuffs it's difficult to tell this is a country with a collapsing economy and unemployment rate of 25% that threatens to take the rest of europe and maybe even the united states economy down with it. but wait until they close up at barcelona's boqueria market and follow the porters out back to where
we got a little good news today on the economy. overall, auto sales were up 13% last month from a yearefore. among the u.s. automakers, ford sales were unchanged, g.m.'s were up 1.5%, chrysler reported a 12% increase. there hasn't been enough good news like that on the economy. the recovery, of course, is painfully slow and one of the biggest reasons is the recession in europe. the 27 countries of the european union add up to the world's- largest economy, but they're reportrecordnemployment. in...
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Oct 1, 2012
10/12
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economy. we have seen head winds coming from slowing trade. >> reporter: if you combine imports and exports, the european union is our biggest trading partner. >> so we have a very strong interest in europe solving its problems. >> reporter: but the problem won't be solved quickly says ian brehmer who heads the eurasia group, a global research firm. what brings the europeans back to growth? no one started to address that issue. it's like saying what's going to bring the united states back to a healthy and manageable deficit. >> reporter: and the more imminent threat to the economy may be the so-called fiscal cliff. the ratings agency fitch has said uncertainty about u.s. fiscal policy is the single-biggest near-term threat to the global recovery. >> winston churchill once said that the americans always do the right thing but only after extinguishing every other possibility. that is precisely what the americans are doing here. >> reporter: bremmer believes washington won't go over that cliff, b
economy. we have seen head winds coming from slowing trade. >> reporter: if you combine imports and exports, the european union is our biggest trading partner. >> so we have a very strong interest in europe solving its problems. >> reporter: but the problem won't be solved quickly says ian brehmer who heads the eurasia group, a global research firm. what brings the europeans back to growth? no one started to address that issue. it's like saying what's going to bring the united...
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Sep 27, 2012
09/12
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. >> do you think he should be talking about foreign policy than about the economy and jobs? >> i think he should do both, particularly in light of the tragic death of ambassador stevens. >> good to have you here. >> thanks for having me on. >>> we want to turn to some of the headlines from the morning papers around the globe "the financial times" reports about the financial crisis in spain. spain announces budget cutbacks. on wednesday they will protest outside the spanish parliament for the second day in a row. political turmoil is causing spanish stocks to nosedive. >>> britain's "guardian" reports on massive new demonstrations in greece. protester his violent confrontations with police as they oppose new wage and pension cuts. this morning the greek finance minister said the government has agreed on an austerity budget for next year. >>> "usa today" finds income is growing much faster in republican-leaning red states. personal incomeome in those 23 states has risen 4.6% since the recession began five years ago. in democratic-leaning blue states income is only up 0.5%. >>>
. >> do you think he should be talking about foreign policy than about the economy and jobs? >> i think he should do both, particularly in light of the tragic death of ambassador stevens. >> good to have you here. >> thanks for having me on. >>> we want to turn to some of the headlines from the morning papers around the globe "the financial times" reports about the financial crisis in spain. spain announces budget cutbacks. on wednesday they will...
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Sep 29, 2012
09/12
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it really wasn't -- the assumption was if you helped them you would be helping the broader economy. it didn't work out that way. granted, in late 2008 we were dealing with a lot of unknown, a lot of uncertainty, a lot of lack of information. in 2009 we continued very pro large financial institution bailout policies instead of imposing pain and accountability at that point. and tacking on mortgages nuclear weapon say pain and accountability. what do you mean by that? >> more people should have lost their jobs. more banks should have been required, the sickest ones should have been restructured this period should have been asked to get their bad assets off their books and sell them into some type of facility that we propose to publicly announce and it was never implemented to get the mortgages especially off their balance sheets and restructured. really the mortgages are at the heart of the problem and we never really effectively tackled those mortgages and our economic recovery continues to suffer from a bloated financial sector and very morbid housing market. new say you butted head
it really wasn't -- the assumption was if you helped them you would be helping the broader economy. it didn't work out that way. granted, in late 2008 we were dealing with a lot of unknown, a lot of uncertainty, a lot of lack of information. in 2009 we continued very pro large financial institution bailout policies instead of imposing pain and accountability at that point. and tacking on mortgages nuclear weapon say pain and accountability. what do you mean by that? >> more people should...
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i'll call it the economy tax. it's been crushing. >> let's talk about taxes, because i think it's instructive. now, four years ago when i stood on this stage, i said that i would cut taxes for middle class families, and that's exactly what i did. we cut taxes for middle class families by about $3,600, and the reason is because i believe that we do best when the middle class is doing well. >> that was just a couple of highlights from last night's presidential debate. we're going to go more than just play soundbytes. we're going to replay the entire debate next hour of cnn newsroom, so you can judge for yourself just how the candidates performed. which candidate would do a better job of growing a sluggish economy? voters, they're looking for answers. last night's debate, did they actually even get them? we're going to bring in our cnn chief business correspondent alshi velshi. an incredible debate. ali, i want to start off with you first. >> yeah. >> one of the things that mitt romney was very consistent on, the mes
i'll call it the economy tax. it's been crushing. >> let's talk about taxes, because i think it's instructive. now, four years ago when i stood on this stage, i said that i would cut taxes for middle class families, and that's exactly what i did. we cut taxes for middle class families by about $3,600, and the reason is because i believe that we do best when the middle class is doing well. >> that was just a couple of highlights from last night's presidential debate. we're going to...
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Sep 26, 2012
09/12
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CNN
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the economy has shrunk 20% in the last five years. that will be 25% by the end of mechanics year. >> you talk about suicides. who is taking their lives? >> people who end up with nothing. these people who have lost their jobs, will lose their homes. you are talking about huge numbers of people. this is not just small numbers of people. i heard an interesting story today. under the way greece is set up too, if you are unemployed and your dad dies and leaves you the family home, when you get that home, that is counted as income in greece. you will be taxed on that home month to month, so not only do you not have a job job, you can't sell it because the company country is in the toilet, but now you are getting bills. >> it's really discouraging situation. >> family tension. >> when we see these pictures today, michael, do you think we're going to see these pictures or are we going to see more and more of this in the days and weeks to come? >> we've seen in the months in the past two too. this isn't over by a long shot. i mean, greece is
the economy has shrunk 20% in the last five years. that will be 25% by the end of mechanics year. >> you talk about suicides. who is taking their lives? >> people who end up with nothing. these people who have lost their jobs, will lose their homes. you are talking about huge numbers of people. this is not just small numbers of people. i heard an interesting story today. under the way greece is set up too, if you are unemployed and your dad dies and leaves you the family home, when...
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Sep 26, 2012
09/12
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i think more of this is about the economy. polls in these states and nationwide are indicating people are starting to get a little more optimistic about the economy, and look at this, who would do a better job of the economy, this is from the quinnipiac new york times cbs polls you showed. the president with a slight advantage in all three of their states. a different story, mitt romney used to have the advantage on the economy. >> back to the ohio/florida scenario. cnn sees obama likely to win, 237 electoral votes come election day. were he to also win ohio and florida, he would have the total 284. the magic number is 270. there is no guarantee he wins both of those states or either state for that matter you see where i'm going. >> i see where you're going. the polls we're looking at give the advantage to the president, makes mitt romney's pathway to 270 much tougher. this is rich biesen, the political director for mitt romney. he doesn't see it that way. take a listen. >> they're sort of spiking the ball at the 30 yard line
i think more of this is about the economy. polls in these states and nationwide are indicating people are starting to get a little more optimistic about the economy, and look at this, who would do a better job of the economy, this is from the quinnipiac new york times cbs polls you showed. the president with a slight advantage in all three of their states. a different story, mitt romney used to have the advantage on the economy. >> back to the ohio/florida scenario. cnn sees obama likely...
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Sep 27, 2012
09/12
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russia's economy is growing faster than the united states and that a weak economy means weak national security. it's no surprise he tailored that message that this audience. suzanne, from a pure political standpoint, if mitt romney can't flip virginia back to the republican column -- as we know president obama won four years ago here. if he can't do that, it's going to be very tough. these are states that romney has to flip back to the republican column if he wants to be elected president. >> jim, one of the things i noticed, too, that's different here, virginia's unemployment rate is much lower than the national average. you're talking about a national average of over more than 8%, virginia hovering in the 5% range or so. is his message of creating more jobs. is that really going to resonate in virginia? >> reporter: that is why i think, suzanne, we heard him talking about defense jobs. as he was putting it here a few moments ago, if the sequestration cuts happen -- you hear it here in the local media. while the economy is doing quite well, better than the national average. we heard
russia's economy is growing faster than the united states and that a weak economy means weak national security. it's no surprise he tailored that message that this audience. suzanne, from a pure political standpoint, if mitt romney can't flip virginia back to the republican column -- as we know president obama won four years ago here. if he can't do that, it's going to be very tough. these are states that romney has to flip back to the republican column if he wants to be elected president....
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Oct 4, 2012
10/12
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the economy right now? is there too much? mr. president, should there be more? this is a two-minute segment to start. >> regulation is essential. you cannot have a free market work if you do not have regulation. i need to know the regulations. you cannot have people opening of things in their garage and making loans. you have to have regulations for an economy to work. regulation can become excessive. >> is it excessive now? where? >> in some places, with some of the legislation passed during the president's term, it has become excessive. it has hurt the economy. for example, dodd-frank designates banks too big to fail. this is an enormous boom for new york banks. there have been 122 community and small banks have close since dodd-frank. >> you want to repeal dodd- frank? >> i would repel and replace it. there are some parts that make all of the sense in the world. in a transparency, the average leverage limits. >> let's let him respond to this specific one -- dodd-frank. >> the reason we have been in such
the economy right now? is there too much? mr. president, should there be more? this is a two-minute segment to start. >> regulation is essential. you cannot have a free market work if you do not have regulation. i need to know the regulations. you cannot have people opening of things in their garage and making loans. you have to have regulations for an economy to work. regulation can become excessive. >> is it excessive now? where? >> in some places, with some of the...
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Sep 26, 2012
09/12
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a temporary aid package can give an economy a boost. it can fund projects that can pay some bills, employs some people for a time, but it cannot sustain an economy for the long term. it cannot pull the whole weight because at some point the money runs out. but an assistance program that helps unleash free enterprise can create enduring prosperity. free enterprise is based on mutual exchange, millions of people buying, trading, building, investing. it has its ups and downs. it is not perfect. it is more reliable and more durable, and ultimately history has shown it is more successful. by the way, perhaps the best example of the good that free enterprise can do is by looking at the example of the developed world itself. my friend arthur at the american enterprise institute has pointed out before 1800 living standards in the west were appalling. a person born in the 18th century lived as his great- great-grandfather had. life was overwhelmed with disease and danger and early death. starting in 1800 the west began two centuries of free ente
a temporary aid package can give an economy a boost. it can fund projects that can pay some bills, employs some people for a time, but it cannot sustain an economy for the long term. it cannot pull the whole weight because at some point the money runs out. but an assistance program that helps unleash free enterprise can create enduring prosperity. free enterprise is based on mutual exchange, millions of people buying, trading, building, investing. it has its ups and downs. it is not perfect. it...
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Sep 26, 2012
09/12
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than the national economy. a lot of people said why is mitt romney talking about debt and deficits? this is just an issue that resonates almost as a psychic. that is one thing to keep it until my. you have the strands that do not always clear in a way that works for you. that is wanting to keep it into my. it is interesting to think about -- when you have this kind of stagnation for much of the country, what does it mean? one thing is if you look at the snap and moment -- in a moment, it is increased dramatically since 2000. same thing for medicaid. limbo clinton gave a speech at the dnc, he was true. -- when bill clinton gave his speech at the dnc, he was s hrewd. when you look at medicaid and who benefits, and it's a lot of white a working-class folks. when you think about how republicans need to talk about it, that the funny thing about mid ryan -- ryan and ryanism. he has until some respects gotten it right. you want to talk about how we care about the safety net. in matters of law to was. a debate dynamics
than the national economy. a lot of people said why is mitt romney talking about debt and deficits? this is just an issue that resonates almost as a psychic. that is one thing to keep it until my. you have the strands that do not always clear in a way that works for you. that is wanting to keep it into my. it is interesting to think about -- when you have this kind of stagnation for much of the country, what does it mean? one thing is if you look at the snap and moment -- in a moment, it is...